Why have an Endowment Fund?
The Endowment Fund provides an opportunity for members and friends to make gifts to Faith Harbor United Methodist Church that will furnish income for future ministries of the Church not ordinarily funded through its annual operating budget. While the Fund is not intended to be a substitute for current giving, it can help provide strength and stability for the future of the Church. It can benefit capital improvements as well as missions and ministry. It can help the Church do things in the future that could not be accomplished otherwise. An endowment fund provides increasingly larger benefits for our Church as more persons make extra gifts, give through their wills, or include the church in other forms of estate planning.
Why Should I Support It?
- It preserves for the future, the ministries and facilities that have value to you today.
- It maintains for future generations those things that have made a difference in your life.
- It helps you preserve for the future those things that you value and give yourself to now.
- It gives you a way to extend your loving care into the next generation.
- It can help you discover the deep satisfaction of philanthropy far beyond what you think you can do.
- It give you a share of tomorrow’s Church
How May I Direct My Gift?
You can contribute your resources in this Fund through direct gifts, memorial gifts, by wills and bequest, and with wise estate planning for charitable gifts. Typically your specific wishes can be honored, or you can make undesignated gifts.
You may make a gifts or bequests to the Endowment Fund with any of the following designations:
- Mission Endowment Fund (For missions in and beyond the local church.)
- Building Endowment Fund (For maintenance, improvements and construction of physical facilities)
- General Endowment Fund (For special needs and ministries approved by the Church leadership)
You are encouraged to use one of the above designations. However, under terms of the Endowment Fund Document and with the approval of the Endowment Committee, gifts for specific purposes may also be accommodated.
How Will Income Be Distributed?
Distribution of income from the Endowment Fund will be made by the Church Leadership, upon recommendations of the Endowment Fund Committee, and in strict accordance with any restrictions placed on the gift by the donor.
How Will the Fund Be Invested?
The Fund will be invested professionally through advisors and managers recommended by the Endowment Committee. Currently investment management is provided through the United Methodist Foundation, Inc. which was established to receive and administer funds for religious and charitable purposes.
Will My Gift Be Permanent?
An endowment fund is a permanent fund that means gifts made today will last long beyond the lifetime of the giver.
Only the income from the Fund may be used, and only for purposes not ordinarily funded through the annual operating budget of the church. Principal may used only under extreme and overwhelming circumstances, and then only by approval of two-thirds majority vote of the Charge Conference.
A Fund that meets needs, achieves specific
goals and is managed wisely can provide long-term benefits. It can perpetuate our Church’s values and inspire commitment to missions and growth. Endowments help provide strength and stability for the future of the Church.
Who Takes Care of the Fund?
The Endowment Fund Committee is responsible for its administration oversight. This committee consists of ten members: The Senior Pastor, Lay Leader, Finance Committee Chair, Chairperson of the Trustees, Treasurer, Stewardship Chair and a nominated chairperson, along with three other persons elected by the Charge Conference.
- The Committee is responsible for:Receiving and investing the gifts
- Recommending disbursements
- Informing Church members about the Fund
- Inviting support
- Making regular reports to the congregation
Will It Grow?
With proper investment management, and member gifts through wills and other forms of estate planning, the Fund will grow to become an important source of support for the future of Faith Harbor United Methodist Church.
Please discuss other questions you may have with any member of the Endowment Fund Committee. They will be glad to talk with anyone wanting more information.
The Endowment Fund Committee:
Jim Black, Chairperson
David King, Pastor
Dale Osborn, Finance Chairperson
Bescye P. Burnett, Lay Leader
Martha Vaughn, Treasurer
Colin Rice, Member At Large
Jim Graziano, Member At Large
Mike Kaufmann, Member At Large